Seaport Res Ptn Downgrades Asbury Automotive Group (NYSE:ABG) to Hold

Seaport Res Ptn lowered shares of Asbury Automotive Group (NYSE:ABG) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports. Seaport Res Ptn also issued estimates for Asbury Automotive Group’s Q4 2024 earnings at $6.19 EPS, FY2024 earnings at $26.14 EPS and FY2025 earnings at $25.45 EPS.

A number of other equities research analysts have also recently commented on the company. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Craig Hallum boosted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Bank of America decreased their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Asbury Automotive Group has a consensus rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group Stock Down 1.2 %

Asbury Automotive Group stock opened at $261.62 on Monday. The company has a market capitalization of $5.13 billion, a PE ratio of 14.81 and a beta of 1.16. Asbury Automotive Group has a 12-month low of $195.09 and a 12-month high of $277.13. The firm’s fifty day moving average is $231.86 and its 200 day moving average is $233.74. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.12 EPS. As a group, sell-side analysts predict that Asbury Automotive Group will post 25.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in Asbury Automotive Group in the 3rd quarter valued at about $31,000. Quarry LP bought a new position in shares of Asbury Automotive Group in the second quarter valued at approximately $38,000. GAMMA Investing LLC increased its position in shares of Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after acquiring an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Asbury Automotive Group during the second quarter worth $155,000. Finally, Headlands Technologies LLC purchased a new position in Asbury Automotive Group in the second quarter worth $190,000.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.